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Plus500 is a leading online broker who specializes in providing Contracts for Difference (CFDs).

They also offer a substantial number of forex currency pairs, and their state-of-the-art trading platform allows for easy, fast, hassle-free trading.

Plus500 has earned itself a solid reputation for being one of the leading online brokers, and in this Plus 500 review, I’m going to be giving you an impartial, in-depth look at what the site has to offer.

I’ll cover all aspects of the online broker, from the investment options they offer to the payment methods you can use.

I’ll begin with a look at who Plus500 are.

Let’s kick things off with a look at who Plus500 are, and where they operate from.

Forex reviews author Plus500 review was last updated in May 2020. Author – Jonathan Mann.

About Plus500

Plus500 was established in 2008, and it operates underneath a holding company called Plus500 Ltd.

The company was quick to establish itself as a leading CFD trading platform, and today, millions of clients use Plus500 each and every month.

Plus500 is listed on the London Stock Exchange, and it currently operates through three different subsidiaries: Plus500UK Ltd, Plus500CY Ltd and Plus500AU Pty Ltd.

The brand has a solid reputation (as I’ll show you later in this review) and they continue to garner the respect of traders from all over the world.

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Opening an Account

Plus500 offers three different types of account – although one of these is a demo account, which I’ll be covering later in this review.

The two real money account types are the Retail Account and the Professional Account.

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How Long Does the Account Creation Process Take?

Opening an account at Plus500 is near-enough instant; however, before you’re able to add funds and begin trading you’ll need to pass a verification process.

I’ll cover more about this in one of the sections below, but just be aware that you will need to pass this verification process before you’re able to start making real money trades.

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What’s the Minimum Deposit?

The Retail Account has a minimum deposit of $100.

This, I feel, is a relatively fair amount, and it should be affordable for the vast majority of traders.

However, I should point out that this $100 minimum deposit is only valid for deposits made using certain payment methods.

If you opt to make a deposit by bank transfer, for example, the minimum deposit increases to $500.

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Identity and Verification

Plus500 take their regulatory responsibilities very seriously.

In order for your account to be opened you’ll need to pass three different ID checks. First of all, you need to verify your identity.

This can be achieved by uploading a copy of your passport, driving license or ID card.

You then need to prove your residence.

This can be done by uploading one of the following: bank statement, credit card statement, electricity bill, water or gas bill, council tax bill, tax return letter, phone bill, television services bill or a copy of your internet bill.

Finally, you may be required to verify the source of funds.

This is a relatively new requirement brought in by some of the world’s larger financial regulators, and it means you need to prove that the funds you’re depositing/trading with are rightfully yours.

You can pass this step of the verification (usually) by uploading a bank statement or, if you make deposits using debit and credit cards, a copy of the front and back of the card you used to deposit.

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Can Plus500  Be Trusted?

Given the high-risk nature of trading in general, it’s crucial that you find an online broker that’s reputable.

I’m happy to report that Plus500 are an excellent online broker with a solid reputation, and they use state-of-the-art encryption throughout their website to ensure your personal and sensitive information is safe at all times.

This is achieved by using a Secure Socket Layer (SSL), meaning hackers are unable to gain access to your data.

They also offer 2-factor authentication.

This means that whenever you log in, you’ll get a code sent to your mobile phone or email address.

Without this code, you will be unable to log into your account, so it’s a great additional layer of security to have in place.

I was happy to see that Play500 holds all client deposits in a separate trust fund, which are operated in accordance with their regulatory requirements.

This segregation of funds also means that your money is safe, should Plus500 end up going into liquidation.

Plus500 are also regulated by some of the most respected financial regulators around the world.

This means their entire business operation is held to incredibly high standards and prevents anything dishonest going on within the company.

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Research and Assistance

Unfortunately, the research section at Plus500 is not comprehensive at all.

Given that virtually all other areas of their business are fantastic, I think it’s really disappointing that they don’t offer more research tools.

However, within their online trading platform, you will find that you’re able to access the standard research tools – just don’t expect to see dedicated research sections outside of the trading platform.

When it comes to education, Plus500 has a limited selection of material.

This is all contained under what’s known as the “Trader’s Guide”.

It’s designed to help beginner traders learn the basics of trading forex and CFDs, and it contains a number of video sessions which guide you through the basics.

While I wouldn’t say their videos are award-winning by any means, they do help new traders to develop an understanding of the basics and can serve as a useful resource when first starting to trade.

I also really like how Plus500 has a really in-depth “Risk Management” section.

I think it’s only fair to give credit where credit’s due, and to see Plus500 actively showing customers how to reduce their levels of risk, for me, shows that they’re a reputable company.

This section showcases some strategies to minimize risk, and can be incredibly useful, again, for those brand-new to trading.

In the future, I think Plus500 would benefit from a larger research and assistance area.

Their website is slick, up-to-date and easy-to-navigate, but I feel it’s lacking in content. I also feel they’d do a better job of attracting newer traders if they were able to provide a better educational platform.

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Demo Accounts

I was happy to find that Plus500 offers a demo account without any time limit.

This means you can run the account for as long as you want, giving you ample time to get to grips with the trading platform and how everything works.

Opening a demo account takes just a couple of minutes, and thankfully, you don’t need to worry about going through any of the verification processes, as it’s not required for demo accounts.

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Desktop Experience

I was surprised to see that – at the time of writing – Plus500 offers just the one trading platform.

This is a proprietary trading platform that’s been designed by an in-house team of experts.

My initial thoughts of the trading platform were good, and I think it’s evident that the team behind it have put a substantial amount of time and work into developing it.

Below, I’m going to take a look at some of the major benefits of using their platform – which, by the way, is called WebTrader.

Like most leading trading platforms, WebTrader’s home screen is well-organized and you’ll find yourself able to access hundreds of instruments and investment options directly from the main home screen.

You can access all these instruments without needing to pull up any separate windows too, which is a feature I really like.

You can also view pricing information, charts, positions and account information (including your funding and balance situation) directly from the home screen.

When it comes to trading, WebTrader makes it pretty simple and straightforward.

On the left-hand side of the screen you’ll see a tab called “Trade”.

Clicking this tab will then open a number of dropdown menus, all of which contain a different type of trading instrument.

For example, you’ll be able to find Forex trading, CFDs, cryptocurrencies and more.

Once you click one of the instruments available, you’ll then be able to view a more in-depth breakdown of what’s on offer.

I also really like the open and closed position tabs, as these allow you to easily and quickly keep track of your trading activity, and there are many ways of doing so.

You can filter everything by date, and you can back-date it too, so you can see what happened in the past.

When it comes to charting, unfortunately, Plus500 aren’t the best I’ve seen.

I found their charting functions to be quite limited, and I feel they’d really benefit from being a bit more in-depth. Still, they cover all the basics and give you an indication of what’s going on.

Unfortunately, the Plus500 trading platform doesn’t offer any integration with MetaTrader4.

This will likely come as a disappointment to more experienced traders (or those who are used to trading with MT4), but I feel I should point out that WebTrader does an excellent job, aside from their poor charting facilities.

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Mobile Experience

Like virtually all online brokers, Plus500 offers a mobile app and it’s completely free to download.

You’ll find it offered in the iOS and Android marketplaces, and once installed you can log in with your existing account or create a new one if you’re a brand-new customer.

I found the mobile app to work really well, and I was pleased to see that it offers all the same investment options that you’ll find at the main desktop experience.

I was also really impressed with the speed of the app, as it’s super-fast, which is hugely useful when it comes to executing trades on the go.

As you’d imagine, the mobile trading app offers the same low fees, spreads and rates as the desktop WebTrader app, and your account is synced automatically.

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Investment Options

Plus500 offers an extensive range of investment options for you to choose from, and they accommodate all types of trader.

Next in this Plus500 review, I’m going to be breaking down the different types of instruments you’ll find at their site.

Forex is one of the biggest offerings at Plus500, and they allow you to trade more than 60 different currency pairs, including minor and major ones.

Forex trades at Plus500 come with up to 1:30 leverage, and you’ll find a range of advanced trading tools including Stop Loss, Stop Limit and Guaranteed Stop, helping you limit losses and stay in control of your money.

Plus500 also offer free real-time forex quotes, and you can also set indicators, helping you to easily analyse charts.

There’s also a huge number of cryptocurrencies available at Plus500. In fact, they actually offer the largest selection of cryptos I’ve seen at an online broker.

Currently, they offer Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripple XRP, IOTA, Stellar, Tron, Monero and Cardano.

Cryptocurrencies at Plus500 come with a leverage of up to 1:2, and there are detailed cryptocurrency charts available too, giving you an in-depth look at what movements are currently being made in the markets.

When it comes to commodities, Plus500 offers a vast selection.

You’ll find yourself able to trade oil, heating oil, Brent oil, silver, gold, palladium, low sulphur gasoil, coffee, wheat, corn, natural gas, lean hogs, gasoline, copper, platinum, sugar and live cattle.

Recently, Plus500 has also added the ability for you to trade cocoa, soybeans, EUA, cotton, oil and feeder cattle.

You can also invest in shares from a huge number of countries at Plus500These countries are Germany, the UK, Austria, Italy, Japan, Australia, Belgium, Denmark, Sweden, Spain and Singapore.

You can also now trade cannabis shares – Plus500 boast as being one of the first online brokers to offer this facility.

You can also find a pretty good selection of options and ETFs available to trade at Plus500 too.

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Commissions and Fees

Saxo Bank’s fees for forex currency pairs, mutual funds and stock index CFDs are incredibly low.

However, if you’re trading real stocks, ETFs or stock CFDs their fees are higher.

Fees for bonds, options and future fees are also high when compared against other leading competitors.

Saxo Bank does charge an inactivity fee, and this kicks in after a client doesn’t use their account for one quarter of the year.

The fee varies depending on which country you’re in.

In the UK, the fee is £25. For clients outside of the UK, the fee is $100.

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Deposits & Withdrawals

Making deposits and withdrawals at Plus500 is simple and straightforward, and usually, the online broker doesn’t charge any fees.

When it comes to depositing, there are many different payment methods you can use, the most common being debit and credit cards.

Plus500 accepts all major debit and credit cards, including VISA and MasterCard, and deposits are credited to your account instantly.

Plus500 also offers a wide variety of EWallets, including PayPal, Skrill, iDeal, BPAY, Klarna, Giropay and Trustly.

Again, deposits made using EWallets are credited to your account instantly, and there are no fees attached in order to make these deposits either.

The third and final way you can deposit money into your Plus500 account is by making a direct bank transfer.

However, this method is not instant, and you may find yourself waiting up to 5 days in order for the funds to be credited to your trading account.

When it comes to withdrawals, Plus500 aims to process all requests within one to three business days.

I feel the lower end of this scale is fine, but I wouldn’t be too happy if I had to wait three days for my withdrawal to be processed.

If you’re withdrawing money to your bank account or to debit and credit cards, the minimum withdrawal amount is $100.

However, if you’re withdrawing to an EWallet, like PayPal or Skrill, then the minimum is just $50.

Like many online brokers, Plus500 requires you to make withdrawals back to the original payment method you used to make the deposit.

So, for example, if you deposited using PayPal, you’d need to withdraw back to your PayPal account too.

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Customer Support

Plus500 runs a pretty slick operation, and I think that it’s fair to say almost all aspects of their trading platform are spot on.

However, I feel their customer support department lets them down slightly, and this is all because of one core reason; they don’t offer phone support.

In today’s day and age, I feel that it’s crucial online brokers offer phone support.

If you ever run into problems with your online trading account – or simply have questions – then it’s nice to know that you can pick up the phone and get hold of someone.

I would hope, however, in the future, that they’d look to add this, as I feel it’s incredibly important.

So, in terms of getting in touch with Plus500’s customer support team, you have a couple of options.

The only option I’d really recommend is to use the live chat facility, as this connects you to a trained operator in just a couple of minutes.

Simply open the chat bubble icon, enter your email address and a brief summary of your question and you’ll be connected with a member of the customer support team in a few seconds.

If you prefer, you can also send the customer support team an email. However, you should be aware that the response times can be up to 48 hours, so if your problem or query is urgent you should always use the live chat facility.

I should also point out that Plus500 offers customer support in 32 different languages.

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On the whole, I walk away from reviewing Plus500 with a fairly positive opinion.

I find their trading platform to be incredibly well-made and versatile, and while I think it’s a shame they don’t offer MetaTrader4 as an alternative, most traders should find their WebTrader platform perfectly sufficient for making trades.

The one main criticism I have is the lack of educational resources.

New traders especially are looking for guidance a lot of the time, and Plus500 don’t appear to be tapping into this market.

This won’t concern those who are more experienced traders though.

However, a vast selection of trading instruments, fee-free deposits and withdrawals and an easy, simple account-creation process means I have no reasons not to recommend this online broker.

8.2Expert Score
Plus500 Review
Plus500 review is: good! This broker is one of the most well placed online with a strong marketing presence. A few details improved and we will see it climbing up the rank of the best forex brokers.
Trading Tools
Customer Support
  • Diversity of trading tools
  • Diversity of forex and CFD instruments
  • Reliable forex broker
  • Good for beginners
  • Customer Support could be improved
  • Spreads are higher than average
  • Accounts can take some time to open

Details: Plus500 Review

EURGBP Average Spread


EURUSD Average Spread


GBPUSD Average Spread


Bank Transfer
Credit/Debit Card
Union Pay
Takes USA clients?
Takes E.U. clients?
Takes worldwide clients?


Web Trading
Islamic Accounts

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